RH price target lowered to $350 from $500 at Wedbush

Wedbush analyst Seth Basham lowered the firm’s price target on RH (RH) to $350 from $500 and keeps an Outperform rating on the shares. The firm leans positive on RH into Q4 2024 earnings on Wednesday, April 2. Industry and third-party data, as well as competitor read-throughs suggest top line upside, while heighten promotional activity limits flow-through potential and Wedbush anticipates an in line margin performance. Looking forward, the firm sees a mixed backdrop for the industry in 2025 but ample company specific catalyst that should drive accelerating demand growth in 2025 even if the macro does not improve. RH is Wedbush’s preferred name in home furnishings retail.